With the Oles trailing 64-62, Banick drove the length of the floor and found Chad Norberg for an easy lay-up to send the game to overtime.
The Oles (3-3, 1-1 MIAC) scored the last eight points in the extra session to earn their first league win of the 2006-07 campaign.
Luke Linz had 16 points and 11 rebounds and Erik Johnson had 10 points and 17 boards in the loss for the Cobbers (0-5, 0-2 MIAC), who have lost three overtime games this year.
Concordia led 63-60 with 29 seconds left in regulation and by as many as eight in the second half.
St. Olaf's Jon Bain had six blocks and his first double-double of the year, collecting 14 points and 10 rebounds.
Bobby Hunter added 14 off the bench and Norberg had 13.
Brock Citterman added 15 points for the Cobbers in a losing effort.
St. Olaf hosts Augsburg on Wednesday night at 5:45 p.m.
Newspaper Box Score Concordia-Moorhead vs St. Olaf College 12/4/06 5:45 pm at Northfield, Minn. At Northfield, Minn. ST. OLAF COLLEGE 76, CONCORDIA-MOORHEAD 68 CONCORDIA-MOORHEAD (0-5, 0-2 MIAC) Luke Linz 6-10 4-8 16; Brock Citterman 5-16 3-3 15; Ryan Johnson 5-12 2-3 12; Erik Johnson 5-8 0-0 10; Eric Meichsner 2-2 1-2 6; Cody Dyshaw 1-4 0-0 3; Anthony Boike 1-3 0-0 2; Gavin Ganab 1-5 0-0 2; James Baldwin 0-2 1-2 1; Jonathan Schulz 0-1 1-2 1. Totals 26-63 12-20 68. ST. OLAF COLLEGE (3-3, 1-1 MIAC) Steve Banick 5-11 4-4 16; Jon Bain 6-13 2-2 14; Chad Norberg 5-6 3-4 14; Bobby Hunter 5-10 3-4 13; Mark Bergstrom 4-9 1-2 10; Jon Butala 2-6 1-4 5; Mark Torell 1-3 0-0 2; Brady McMahon 1-7 0-0 2; Matt Christensen 0-1 0-0 0; Mitch Haugen 0-3 0-2 0. Totals 29-69 14-22 76. Concordia-Moorhead............ 35 29 4 - 68 St. Olaf College.............. 36 28 12 - 76 3-point goals-Concordia-Moorhead 4-15 (Brock Citterman 2-10; Cody Dyshaw 1-3; Eric Meichsner 1-1; Ryan Johnson 0-1), St. Olaf College 4-15 (Steve Banick 2-5; Mark Bergstrom 1-3; Chad Norberg 1-2; Jon Butala 0-1; Mark Torell 0-2; Matt Christensen 0-1; Bobby Hunter 0-1). Fouled out--Concordia-Moorhead-None, St. Olaf College-None. Rebounds-Concordia-Moorhead 48 (Erik Johnson 17), St. Olaf College 37 (Jon Bain 10). Assists-Concordia-Moorhead 16 (Luke Linz 5), St. Olaf College 14 (Steve Banick 6). Total fouls-Concordia-Moorhead 17, St. Olaf College 17. A-346